RE: 🚀🌙World's 4th largest assetmanager Fidelity to service institutional investors with custodial and trading options 🚀🌙
I like to be self-sufficient too, if only because I don't feel like paying for stuff I can do myself.
But in the case of large corporations and institutions, the attitude is very different. I've found that they usually like as little responsibility and risk as possible, and even a 0.1% risk requires a 100% failsafe is at all possible. Hedging risks, etc.
It's also because of this attitude that I think Bitcoin is going to succeed, by the way. As Satoshi famously wrote:
“It might make sense just to get some Bitcoin in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.”
It's going to start with a 0.1% chance of Bitcoin succeeding against all odds, which will require a position to hedge against the 0.1% risk of it happening. This will increase the chances of it actually happening, thus again increasing the necessity to hedge (more) against it. Enter fomo-spiral somewhere around here?
I can't wait to see what institutional FOMO looks like in practise!
I think it will be slow and steady over time.
Let's not forget that institutions are not here to make us all rich, but rather themselves. They will find new ways to manipulate the market I am sure. Just hodl and ride it all out is my advice. From 2017 on the market was halfway out of our hands, but in 2019 it's going to be taken over completely by big money IMO
I'm glad you think that, and I hope it does play out that way. Slow and steady growth is my favourite kind: sustainable and low in volatility. Great for a hodl.
Yeah but the moment the slow and steady growth becomes noticeable, is when the FOMO kicks in and it switches from slow and steady into the biggest bull-run of the history of mankind?
That is what I am hoping.. the FOMO to end all FOMO's!
You're right. I'll drink to that!